Daegu City Allocates 9.3897 Trillion Won Budget for Next Year... Motto: 'Daily Recovery and Economic Leap'

1.7% Increase (160.5 Billion KRW) Compared to This Year... General Accounting Up 6.4%

Deputy Mayor Chaehongho explaining the budget plan at the Daegu City Hall briefing room on the 9th.

[Asia Economy Yeongnam Reporting Headquarters, Reporter Park Dong-wook] Daegu City's budget for next year has been set at 9.3897 trillion KRW, an increase of 1.7% (160.5 billion KRW) compared to this year. The general account is 7.3572 trillion KRW, up 6.4% (443.6 billion KRW) from the previous year, while the special account is 2.0325 trillion KRW, down 12.2% (283.1 billion KRW) from the previous year.

On the 9th, regarding next year's budget formulation, Deputy Mayor Chae Hong-ho stated in a briefing, "Next year, the COVID-19 situation is expected to be similar to or slightly more stabilized than the current level," and explained, "Given the unavoidable circumstances of having to live with COVID-19, next year's budget focuses on 'daily recovery amid with-COVID, economic leap.'"

First, looking at the revenue budget (based on the general account), local tax revenue is expected to increase by 5.1% (146.6 billion KRW) to 2.9926 trillion KRW compared to the previous year. Due to rising real estate prices, acquisition tax is set at 1.059 trillion KRW, an increase of 159 billion KRW (18.3%), local income tax at 432.8 billion KRW, tobacco consumption tax and resident tax at 191 billion KRW, and earmarked taxes such as local education tax at 337.4 billion KRW.

Dependence resources include national subsidies, which increased by 11.8% to 2.5472 trillion KRW, and local allocation tax of 1.0263 trillion KRW. Local bonds decreased by 11% (42.2 billion KRW) to 342.3 billion KRW, and internal transactions such as compensation income amount to 332.7 billion KRW.

'Daily Recovery' 3.434 trillion KRW · 'Social Safety Net' 3.02 trillion KRW... Screening Clinics Expanded to 30 Locations

Mayor Kwon Young-jin: "Presenting a new model for daily recovery and economic leap... Focusing all capabilities to maximize tangible effects"

The area where Daegu City will heavily invest next year is projects for 'daily recovery and economic leap amid with-COVID.'

3.434 trillion KRW will be allocated for 'daily recovery amid with-COVID,' 3.02 trillion KRW for strengthening the social safety net, 1.439 trillion KRW for 'economic leap' to create future growth engines, and 118.3 billion KRW for 'urban space innovation' as a foundation for balanced development across east, west, south, and north.

For the post-COVID era and preparing a new era of culture and arts, 281.4 billion KRW will be used for 'cultural and tourism re-leap,' and 584 billion KRW for 'healthy green environment and realization of 3 no's + 1 transportation environment' projects to create a coexisting ecosystem and safe transportation environment.

Regarding the 'with-COVID' projects, 44.2 billion KRW will be invested in infectious disease prevention. Screening clinics will be expanded from the current 19 locations to 30 to enable rapid diagnostic testing, and disaster budgets for the swift isolation and treatment of confirmed patients will be significantly increased from 25.1 billion KRW this year to 34.8 billion KRW.

Additionally, to record Daegu's globally recognized COVID-19 overcoming case as a historical site, 1 billion KRW will be spent to create a 'COVID-19 Memory Space,' and 8.7 billion KRW worth of integrated cultural vouchers will be provided to support artistic activities, dedicating 57.1 billion KRW to psychological quarantine.

3.127 trillion KRW will be poured into economic quarantine, including stable management funds (18.3 billion KRW, loans of 1 trillion KRW) for small business owners and SMEs struggling with financial difficulties, and a 10 billion KRW basic asset contribution for stable guarantee support by the Daegu Credit Guarantee Foundation.

3.02 trillion KRW will also be invested in strengthening the social safety net that embraces citizens' lives. First, 355.6 billion KRW will be provided to guarantee basic living for 135,000 low-income individuals, and disability pensions (78.6 billion KRW) will be paid to support the living stability of disabled persons.

1.439 trillion KRW will be invested in 'economic leap' to transform the region's vulnerable industrial structure into future growth industries and create future growth engines. 509.3 billion KRW will be invested in fostering the ‘5+1 future growth engines (future vehicles, robots, medical, water, energy, smart city)’ and smart city development, which have been focused on since the 6th local government administration.

In addition, 2.4302 trillion KRW will be invested in general public administration fields such as reinforcing district and county financial capacity (537 billion KRW) and supporting educational finances (447.7 billion KRW), ensuring efficiency in fiscal management.

Mayor Kwon Young-jin of Daegu emphasized, "Just as we overcame the unprecedented COVID-19 disaster with citizens and became a global model city for quarantine, we have prepared a budget to move forward with a new model for daily recovery and economic leap next year. We will focus all capabilities to ensure flawless D-quarantine, economic recovery, and preparation for the post-COVID era so that citizens can feel the effects and maximize the impact of fiscal investment."

This content was produced with the assistance of AI translation services.